IRA

“Two ways to help grandchildren achieve financial security are to fund 529 plans for their education and to fund Roth IRA accounts,” said Larry Luxenberg, a certified financial planner with Lexington Avenue Capital Management.

“If there is any money left over in the plan, the student can roll the money over to a Roth IRA, jump-starting their retirement planning.”

A custodial Roth IRA is a Roth in a minor’s name, managed by an adult until the child reaches majority.

‘I would like to know the truth’: My stepgrandmother told me she left me her IRA.

She said she had not touched any of the money my grandfather had left to her, and that it was being held in an IRA account.